President Bola Tinubu has approved the long-awaited operational launch of the Regional Maritime Development Bank (RMDB), with Mr. Adeniran Aderogba appointed as its pioneer President and CEO. The Minister of Marine and Blue Economy, Adegboyega Oyetola, made the announcement on Thursday, describing the development as a historic breakthrough for West and Central Africa after a 16-year delay. The RMDB, originally conceived in 2009 by member states of the Maritime Organisation of West and Central Africa (MOWCA), is expected to fund key infrastructure and logistics projects across the sub-region.
Oyetola praised President Tinubu’s decisive leadership in breaking the deadlock, noting that the bank’s takeoff aligns with the administration’s Renewed Hope Agenda. The RMDB will provide long-term funding solutions for projects including port development, fleet expansion, shipping logistics, and intermodal transport systems. “This is a moment of great significance for Nigeria and the entire sub-region,” Oyetola said, adding that the bank will boost regional integration and economic cooperation.
Mr. Aderogba, who brings over three decades of experience in maritime finance and investment, previously held leadership roles at NIMASA, First Atlantic Bank, and MBC International Bank. He is also the founder of CLG Securities Limited and has led over $5 billion in structured finance transactions. A Fellow of ICAN and an alumnus of the University of Lagos, Aderogba’s appointment is seen as pivotal in steering the RMDB towards impactful delivery in the maritime sector.
